NFP Acquires Independent Bankers Insurance Services, Inc.
Acquisition expands capabilities for financial institutions in NFP’s West region
NEW YORK – July 22, 2019 – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced that it has acquired Independent Bankers Insurance Services, Inc. The transaction closed on June 1, 2019.
Based in Scottsdale, Arizona, Independent Bankers Insurance Services Inc. (IBIS) provides management liability coverage to community banks. This acquisition strengthens NFP’s capabilities within its financial institutions vertical by broadening the suite of products and services, including default protection and loan security products, that NFP can offer to its existing financial institution clients.
Justin Corey, president of IBIS, will join NFP as a vice president reporting to Ed Kurowski, NFP’s West region managing director. He will work closely with NFP’s premier bank-owned life insurance consultants to integrate best-in-class offerings to the community bank space across multiple business lines. Pat Corey, founder of IBIS, will also remain active as a consultant to NFP and will assist in risk analysis and strategic planning.
"NFP continues to diversify its revenue base by expanding our suite of products and services, including P&C solutions designed for financial institutions. We are thrilled to welcome a well-established firm like IBIS to the NFP family," said Kurowski.
"NFP provides us the opportunity to better serve our existing and prospective clients with additional offerings, including bank-owned life insurance and specialty P&C products," said Corey. "Together, we’ll continue to develop NFP’s financial institutions vertical and elevate our ability to deliver the full suite of service solutions to community banks across the country."
NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,100 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest US-based privately owned broker, 6th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
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